Talking #InclusiveBiz No.1 – Finance and Covid-19
In the first episode of the iBAN podcast, Nicholas Colloff, Executive Director of the Argidius Foundation, takes a look at Covid-19 and inclusive business. How has the pandemic affected impact investment? What are its long-term effects? And – most importantly – what should inclusive business companies do when they find themselves struggling to adapt?
- Talk to your bank manager
- Be as transparent as you can be
- Prepare for a time lag in finance
- Expect the cooperation driven by the pandemic to create a better ecosystem for inclusive business
Also, find herewith an overview of resources that can help you manoeuvre the pandemic, as well as an inspiring example of a company that has been thriving in the crisis. More details are described in the podcast.
- Growth in time of crisis, Guatemala: Grupo Genesis, a cleaning product and water treatment manufacturer from an Argidius Foundation cohort, has grown significantly in the last three months. Covid-19 created a sharp increase in demand for its products. Hence, the company has grown from 44 employees to 140 and secured a US$650,000 loan. The majority of its recent hires are women. Grupo Genesis is now seeking additional investments totalling US$700,000 for the purchase of new equipment to meet new client demand from the U.S. and EU. It is a partner of BPeace.
- Survive to Thrive programme of the African Management Institute: a fully virtual programme designed to help businesses and entrepreneurs across Africa navigate the unexpected challenges brought about by Covid-19.
- CovidCap.Com: a searchable website to help entrepreneurs struggling due to the economic impacts of Covid-19 to locate cash relief resources.